中国趁莫迪不敢出手，和普京在商言商，靠折扣拿下千万桶俄油？

Core Insights - China is seizing the opportunity to purchase Russian oil at discounted prices due to India's reduced demand, with Chinese refineries reportedly buying over 10 million barrels of Russian oil this month [1][5][8] Group 1: India's Reduced Demand for Russian Oil - India's demand for Russian oil has significantly decreased, influenced by pressure from the Trump administration, which threatened to impose a 25% "secondary tariff" on Indian imports of Russian oil [3][5] - The Indian government is caught between not wanting to concede in trade negotiations with the U.S. and avoiding the additional tariff, leading to a slowdown in Russian oil imports [3][5] - Indian refiners have paused imports from Russia, awaiting further instructions from the Modi government, with existing orders expected to last until September [3] Group 2: China's Increased Purchases - Chinese refineries have quickly ramped up purchases of Russian oil, particularly Urals and Varandey grades, which were primarily sold to India before [5][8] - The price discount offered by Russian suppliers has made these purchases attractive for Chinese companies, with a reported $1 reduction per barrel, enhancing China's negotiating power [5][6] - The current global energy price volatility makes securing favorable prices and quantities a strategic risk management approach for Chinese enterprises [6] Group 3: Strategic Implications - By increasing oil purchases from Russia, China is reinforcing its energy cooperation with Russia and positioning itself as a more reliable partner compared to India, which is seen as inconsistent [8] - Despite the increased purchases, China's refining capacity and storage limitations mean it cannot fully compensate for India's reduced imports, potentially affecting imports from other countries like Saudi Arabia [8][9] - The long-term strategy for China remains focused on energy import diversification to mitigate supply risks, avoiding over-reliance on any single source [9]